Thursday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Thursday’s business headlines.
Child care
Parents are worried that child care costs are going to going to rise after the pandemic.
A Care.com survey found that 52% of respondents expect that child care will be more expensive than it was before the coronavirus.
Aside from child care costs, the coronavirus-focused survey also found that parents are worried about sending their children back to daycare centers.
Target
Target is permanently raising its minimum wage to $15.
The company also said it would award a $200 bonus to frontline store workers and hourly distribution center workers, add sick leave benefits and offer free virtual physician visits for the rest of the year to all workers.
JCPenney
JCPenney is beginning liquidation sales at 136 stores.
There will be storewide discounts of 25-40% and shoppers can still return items purchased before June 12.
JCPenney is closing nine Indiana stores including one on Michigan Road in Indianapolis, the Kokomo mall, Muncie mall and Richmond Square.
Jobless claims
More than 1.3 million new applications for unemployment benefits were likely filed in mid-June to push the total during the coronavirus pandemic above 48 million.
That number continues the steady decline of weekly jobless claims but the number is still historically high.
Many economists expect the weekly jobless claims to remain above 1 million through the end of June.